Plasson Industries Ltd. (TASE:PLSN) signed a memorandum of understanding to acquire 50.1% stake in animals business of Diversified Imports D.I.V. Company, Inc. on September 1, 2016. The transaction will be carried out in three stages, when the target operations will be transferred to a new company, created to be acquired by Plasson. The first stage, acquisition of 30% interest, will be completed during the first quarter of 2017; the second stage of 10% interest, will be completed in January 2019 and the third stage of 10.1%, will be completed in January 2021. The consideration will be calculated according to the new company’s results, when the new company’s value at the first stage will not be higher than $41 million. Completion is subject to the completion of a due diligence process, the signing of a definitive agreement and required approvals.